FOOD inflation has had a positive impact on the revenues of protein producers Japfa and Charoen Pokphand Indonesia (CPIN). Yet, shares of the two companies, as well as those of Japfa subsidiary Japfa Comfeed Indonesia, are down for the year. Analysts see positive prospects for all three counters as demand-supply dynamics continue to improve.

Prior to an update on Thursday (Dec 15) about the Hong Kong listing of its China-focused dairy unit AustAsia Group, Singapore-listed agri-food company Japfa was down about 20 per cent in spite of active share buy backs. Shares of Japfa shot up 13.4 per cent or S$0.065 to close at S$0.55 on Thursday, following the update. 

Japfa specialises in producing dairy, packaged food and protein staples such as beef, swine and aquaculture. The company operates an integrated network of farming, processing and distribution facilities in Indonesia, China, Vietnam, India and Myanmar.